Karnataka Elevate 100 Program: Funding and Mentorship for Early-Stage Startups

The Karnataka Elevate 100 program is a flagship initiative by the Department of Electronics, IT, BT and S&T, Government of Karnataka. Designed to identify and nurture the most innovative startups in the state, this program provides a comprehensive platform for early-stage entrepreneurs to scale their ideas into viable businesses through funding, mentorship, and ecosystem support.

What is this scheme?

Elevate 100 is an idea-to-proof-of-concept (PoC) grant scheme. It aims to identify the top 100 startups in Karnataka through a multi-layered screening process. Winners gain access to government grants, technical support, and the chance to collaborate with industry experts to bring their products to market.

Who is eligible?

• The startup must be registered in Karnataka for less than 10 years.
• The entity must be a private limited company, LLP, or partnership firm.
• Must have an innovative product or service with a high potential for scalability.
• At least 50% shareholding must be held by Karnataka-based promoters.
• The startup should not have received more than a specified amount of prior government funding, as per latest notification, verify on official portal.

How much money?

The scheme provides a grant-in-aid of up to INR 50 Lakhs per startup, released in installments based on the achievement of specific milestones.

Documents needed

1. Certificate of Incorporation or Registration
2. Company PAN Card
3. Proof of Karnataka-based Office (Rent agreement/Utility bill)
4. Details of Promoters and Shareholding Pattern
5. Pitch Deck explaining the innovation and business model
6. Detailed Project Report (DPR) focused on the Proof of Concept (PoC)

How to apply (step by step)

1. Navigate to the official Karnataka Startup portal.
2. Register your startup and complete the basic profile information.
3. Fill out the Elevate 100 application form during the active call for proposals.
4. Submit a pitch deck and a video demonstration of the product/idea.
5. Undergo multi-stage screening: initial shortlisting followed by a pitch to a grand jury.
6. Wait for the final selection announcement and signing of the grant agreement.

Important dates

Conclusion

The Karnataka Elevate 100 program remains one of the most prestigious startup grants in India, offering a vital lifeline to entrepreneurs in their early stages. By providing both financial backing and strategic mentorship, Karnataka continues to solidify its position as the 'Startup Capital' of India.